• Please try to select the correct prefix when making a new thread in this folder.

    Discuss is for general discussions of a financial company or issues related to companies.

    Info is for things like "Has anyone heard of Company X?" or "Is Company X legit or not?"

    Compare is for things like "Which of these 2 (or more) companies is best?"

    Searching is for things like "Help me pick a broker" or "What's the best VPS out there for trading?"

    Problem is for reporting an issue with a company. Please don't just scream "CompanyX is a scam!" It is much more useful to say "I can't withdraw my money from Company X" or "Company Y is not honoring their refund guarantee" in the subject line.
    Keep Problem discussions civil and lay out the facts of your case. Your goal should be to get your problem resolved or reported to the regulators, not to see how many insults you can put into the thread.

    More info coming soon.

Problem FOREXGEN.COM SCAM Alert! Broker stole over $160K from our trader!

I am having an issue with a company
AHAHAHA!!! I love those BS replies they gave on chat. The advantage of the gentler approach is that they have to say something and can't hide behind disconnecting.

I think the weasels are just beginning to realize how bad this is for them and how it is going to cost them a LOT more than what they stole from Rashid.

Thanks to Rob, Felix, and everyone else who's putting pressure on them. Keep up the good work.

The chat thing is a contracted thing the people don't work for them they have answers on a screen like a call center they work for hundreds of companies and would have no clue how to answer that question.
Why cant Rashid go immediately to the court get a subpoena for the name and address of the person who registered the servers that the trades go through, from the hosting company, then file a civil law complaint himself against that person or entity he wouldn't even need lawyers to do all that its just forms etc.
And if the person doesn't answer to the complaint it doesn't go away they award the damages against them and they get arrested.
For this amount it would be worth doing this.
Especially showing a judge the clear outright fraud evidence I don't think hed have much trouble getting a subpoena.
I think Rashid would have much success in this.
 
The problem is:

1) The EUR/USD at 7:10 EST on 10/19/2007 was never at 1.4056 (actually it was never anywhere close the entire day, no matter what time zone you want to pick... actually last time the EUR/USD was at 1.4050 levels was 2 weeks ago), and the lowest the Eur/usd was during the time frame (10/19/2007 at 7:10AM) was 1.4280s or so.

2) They closed that huge "in house bogus cross trade" for a MASSIVE loss of 247 pips, in less than 1 minute..... The highest the eur/usd was during that time frame was 1.4290s and the highest the eur/usd was during the entire day was 1.4315s or so, and the lowest it was the entire day was 1.4240s or so, a maximum of 60/70 pips range, no matter what time ZONE you want to pick THAT DAY! Hell, I can't remember the last time the Euro moved over 247 pips in less than 1 minute (at 7:10 there was no news announcement neither)... OR EVEN IN A DAY FOR THAT MATTER..... LUCKY AND EVEN UNUSUAL IF YOU GET THIS TYPE OF MOVE IN 2 WEEKS TIME...... LOL

THAT SCAM IS SO OBVIOUS THAT EVEN A RETARDED MONKEY COULD FIGURE IT OUT....

THIS IS CLEARLY A WIRE FRAUD, INTERNET FRAUD, EMBEZZLEMENT AND MONEY LAUNDERING IS NOT FOR OFF EITHER....

i was posting about this issue on metaquotes forum asking them to incorporate trading log encryption in MT4, so that logs could be a legal evidence in such scam cases, but shortly after that my post was deleted and i was warned they will ban me for posting such stories without any evidences.

obviously, brokers are the ones who make a profit to metaquotes and obviously, they all are not interested that traders could prove anything.
so metaquotes with it's software do what brokers want (ability to play dirty games) and they do not want to listen to traders.

can Rashid post screenshots from his account to provide public evidences of this scam case?

rob grespi: YOU HAVE 72 HOURS TO GIVE RASHID GASHOR ACCOUNT # 5011164 , IS FUKING MONEY, OR WE WILL SHUT DOWN YOUR FUKING FIRM, THIEVES.... CAPESH

rob grespi: THIS IS THE LAST WARNING MOTHERFUKERS

If my subscriber does not get *ALL* his money within 72 banking hours, "PREPARE TO ENTER INTO A WORLD OF ****"

Also I have Forexgen clearing bank infos (all infos that is...) , I will forward this letter to all their clearing banks as well, if my subscriber does not get his funds within 72 hours... I am counting...

Rob, Felix and Rashid, 72 hours have past long time ago, what is your progress on this case?
please, update us what is the situation now?
 
72 Hours have passed

Hello Mr. Rob Grespi and Felix,

I have a question.... every one is agrees with you in this forum that forexgen is a thief.... but have you ever thought that may be " Mr. Rashid " is being investigated for money laundering or that forexgen is suspicious. May be " Mr. Rashid " does not have the documents needed for a big withdrawl. I had to withdrawl close to $225K from my broker and my broker took 7 days after verifying that it was me who was getting his money back. Which is actually a good thing. Its for there and our security.

A Lot of foreign investors try to deposit there money in forex accounts and try to do withdrawl in other accounts in (sometimes) other countries... which is clearly " Money Laundery " they are making there illegal money in to legal money.

I am not saying " Mr. Rashid " is like that. Its just a thought. I do see that forexgen is still in business. He is not really my broker. I am a lawyer myself and I do not see any pending lawsuits against there firm.

Also, Mr. Rob Grespi... I think use of words such as " FBI " and " Terrorist Activities " to threat some one is very un-professional. You make the whole thing seem like its the wild west.

By the way, 72 hours have passed away several weeks ago. Where do we stand? Good Luck Guys.
 
The fraud is that forexgen manually opened a large short position on eur/usd, raised the spread by over 240 pips, then closed the position the very same minute. I believe Felix has verified that from Mr Rashid. This is what has been written in the thread, i have no proof for myself. Lastly, forex might as well be the wild west, because there isn't much regulation.

Since you are an attorney, maybe you could give some insight into any legalities here. Or do you know of anyone who specializes in these matters?
 
WARNING: FOR THOSE WITH WEAK HEART DO NOT READ THIS LETTER


Here is what I sent to my Kingforex subscribers:

Dear KFS subscribers,

I am writing you today regarding a very serious situation that has happened to one of my KFS subscribers, and I am sure it will happen to others that have an account at www.Forexgen.com

In a nutshell:

One of my subscribers decided to withdraw his money from Forexgen.com (his full and total right) for a total of $160,500, after several attempts he never received his money. Of course, he brought this situation to my attention when he knew that I helped another of my subscibers (several months ago) getting her money back from another forex broker scam artist (www.profinum.com) which by the way, after our intervention, Profinum went out of business and the owner is now selling his Canary house, that I am sure was obtained by scamming honest traders out of their money. But mission was accomplished and my subscriber got her hard earned money within 48H of our intervention (Felix, KFS people and me).

Old Profinum webpage:
http://web.archive.org/web/20070104163814/http://www.profinum.com/

My phone call to Profinum:
http://www.kingforexsignals.com/Robvideos/011107_SpecialEd_Rob/011107_SpecialEd_Rob.html

Their website after they went out business:
http://web.archive.org/web/20070520032435/http://www.profinum.com/

And their current website :)
http://www.profinum.com

Now we have a similar situation on a bigger scale; www.forexgen.com is refusing to return my subscriber his $160,500 or so. After he made me aware of it, I went on the war path and started to call every numbers that Forexgen.com had listed, not one of them answered. 2 of them had standard electronic greeting not mentioning I reached "forexgen" at all, the other numbers were bogus numbers or numbers of regular people accross the globe (I sadly even woke up some of them) that had no relationship with Forexgen.com at all. The N.Y. number that Forexgen has listed kept hanging up on me. Obviously, they were hiding as they knew what I was after.

Here how they cleverly stole his money:

They place an "inhouse bogus cross sell trade" on the EUR/USD at 1.4056 (trade # 33114 on 10/19/2007 at 7:10 am EST), for a very large lot amount, enough to suck in all his equity, then they closed the trade same minute at 1.4303.

The problem is:

1) The EUR/USD at 7:10 EST on 10/19/2007 was never at 1.4056 (actually it was never anywhere close the entire day, no matter what time zone you want to pick... actually last time the EUR/USD was at 1.4050 levels was 2 weeks ago), and the lowest the Eur/usd was during the time frame (10/19/2007 at 7:10AM) was 1.4280s or so.

2) They closed that huge "in house bogus cross trade" for a MASSIVE loss of 247 pips, in less than 1 minute..... The highest the eur/usd was during that time frame was 1.4290s and the highest the eur/usd was during the entire day was 1.4315s or so, and the lowest it was the entire day was 1.4240s or so, a maximum of 60/70 pips range, no matter what time ZONE you want to pick THAT DAY! Hell, I can't remember the last time the Euro moved over 247 pips in less than 1 minute (at 7:10 there was no news announcement neither)... OR EVEN IN A DAY FOR THAT MATTER..... LUCKY AND EVEN UNUSUAL IF YOU GET THIS TYPE OF MOVE IN 2 WEEKS TIME...... LOL

THAT SCAM IS SO OBVIOUS THAT EVEN A RETARDED MONKEY COULD FIGURE IT OUT....

THIS IS CLEARLY A WIRE FRAUD, INTERNET FRAUD, EMBEZZLEMENT AND MONEY LAUNDERING IS NOT FOR OFF EITHER....

With this level of fraudulent activities and the size of the money involved, all International Authorities can be involved wherever they try to hide, also the clearing banks they use will also be contacted, I am sure that those clearing banks are NOT involed in this "dirty scam", and therefore will cooperate with authorities in an effort to freeze all asset of Forexgen, and also give all where abouts of any Forexgen's funds.

OH! Also the U.S address that Forexgen has listed on there website in Manassas, Virginia, is a private home, that I may add, is in foreclosure.
(Too late to change it, Mr Forexgen, we made screenshot of it...), Actually we made screen shots of everything for that matter.

Of course I left several messages to the one that had a voice mails, warning them that they had 72 hours to send the money to my subscriber. (I don't need to tell you how the messages were worded, but I am sure after the Profinum story, you can imagine the style that I used), (Profinum phone call: http://www.kingforexsignals.com/Robvideos/011107_SpecialEd_Rob/011107_SpecialEd_Rob.html)

So after going nowhere with the telephone calls, I went on their "live chat", and here is what happened:

Nancy: Welcome to our live chat service.

Nancy: How may I help you today?

rob grespi: YOU HAVE 72 HOURS TO GIVE RASHID GASHOR ACCOUNT # 5011164 , IS FUKING MONEY, OR WE WILL SHUT DOWN YOUR FUKING FIRM, THIEVES.... CAPESH

rob grespi: THIS IS THE LAST WARNING MOTHERFUKERS


Needless to say, s/he closed the chat and went to hide under his/her kitchen counter, (because I am sure it is a "garage/basement/kitchen counter" based organization at best). They are hiding, but it does not matter: I will go to all the way to the hell if necessary to find that money for him, even if I have to drag these "scums" out of their basements.

Later.... they cleverly threatened to sue me, that the funny part, I welcome and encourage them to: anytime, anyplace, anywhere, because I will not only counter sue for "abuse of process", but ask for astronomical damages, and will refer the case to my favorite friends, "the FBI", for wire fraud, internet fraud, embezzlement, money laundering, I even MIGHT add that the funds they are stealing "MIGHT" be used for terrorist funding which will of course bring Interpol to the "party" as well as all international anti-terrorist activities agencies).

To add to their "sterling legitimacy", I received a call in the middle of the night, "cleverly wording" that physical harmed against me could be involved........... LOL...

All I have to say is: BRING IT ON................. AND THEY WILL FOUND OUT WHO THEY ARE DEALING WITH....

------------------------------------
NOW: MR FOREXGEN, PAY ATTENTION, READ CAREFULLY, AND WISELY CHOOSE YOUR NEXT MOVE:

If my subscriber does not get *ALL* his money within 72 banking hours, "PREPARE TO ENTER INTO A WORLD OF ****"

(I welcome you to test me or call my bluff. "Make my day... punk" as someone famous said in a movie.)
-------------------------------------

Also, I suggest all other forex traders that have any funds with this "crooks/ thieves" to withdraw their money ASAP, because chances are they will try to shut down their website and try to hide. But as I said, they can run, they can hide but I will found out where there live, like I did with Mika from Profinum, I found out where he [Mika] lived).

Also I have Forexgen clearing bank infos (all infos that is...) , I will forward this letter to all their clearing banks as well, if my subscriber does not get his funds within 72 hours... I am counting...

But here is the lesson: do your due diligences before sending any funds to anyone.

As always,
Best Regards,
Rob Grespi

Hmn
this is scary. but no doubt they re already in deep ****. Pls let felix and rob use this forum's power more than b4. Let a message be posted on this forum to all members and let everyone spread the news about the situation, cos this guys re killers,bloodsuckers and demons. Biggest thieves ever. i think its time to start investigating all brokers that have previous and present cases of fraudulent dealings with clients money. they aint gonna see heaven. LET EVERYONE TELL THE WHOLE WORLD ABOUT THEIR ACTIVITIES. Pls can sumone say anything about northfinance.:shocked:
 
This would NEVER happen in CME Futures??

The fraud is that forexgen manually opened a large short position on eur/usd, raised the spread by over 240 pips, then closed the position the very same minute. I believe Felix has verified that from Mr Rashid. This is what has been written in the thread, i have no proof for myself. Lastly, forex might as well be the wild west, because there isn't much regulation.

......I will soon be funding an account to trade currencies. With ALL the problems I see in FOREX I am seriously just looking at FUTURES FX currencies. I have a USA broker I use for my E-Mini S&P and they offer 1 pip spreads (usually), $250 margin per contract / lot, $6.50 round turn commission.

SOMEONE please tell me why FOREX to trade AND not Futures FX.... ???

OZ :eek:oh:
 
......I will soon be funding an account to trade currencies. With ALL the problems I see in FOREX I am seriously just looking at FUTURES FX currencies. I have a USA broker I use for my E-Mini S&P and they offer 1 pip spreads (usually), $250 margin per contract / lot, $6.50 round turn commission.

SOMEONE please tell me why FOREX to trade AND not Futures FX.... ???

OZ :eek:oh:

Only reason would be liquidity. If you don't trade big (institutional size) no point in trading fx.
 
Hello Everyone,

I have been researching and studying forex for three years now. I wanted to start trading as a side interest.

I used MT4 to program some amazing expert advisors, however, after a long time, i discovered that all the data feeds I was using were flawed, and my experts performed much less than expected on a demo account than on the testing platform. I even used an artificial intelligence expert advisor, and got the same bad results on a demo account.

Then I decicded to write an expert to analyse data feeds on DEMO ACCOUNTS, and guess what: I found time gaps, hunting stops, unrealistic spikes, ping timeouts, and no fills; These contributed to 75% of all expert losses on the Demo when compared to the data feeds.

I then decided to try out my knowledge by hand, and got the same results, I searched for the best review about a broker, and tested them on a demo, still I got some no fills on news times, but perhaps i did not find the other flaws.

I beleive that the work FELIX is doing is great, it may lead to some kind of more stringent regulations in the forex market.

Here is a money making idea for some guru programmer: write a program for the regulating body that will monitor all accounts for flawed price action, and -THE HARD PART- sell them the idea based on the fact that they should enforce this program to run on all accounts and report flawed transactions. The broker that accepts can then be certified frawd free.

Anyway, until regulation is more stringent, i will be watching, i do not take improper risks.

Good luck FELIX.

Regards

Aymen

FX is not centralized...prices may vary.
Also the NFA is funded by it's members not by you and me. It's members have no real incentive to pay further fees for something that 1) is not in their interest 2) is impossible
 
Forexgen.com ?

I do not obtain to have access forexgen today, I asked for my money in return in sixth and today I do not obtain to have access the site, the money left the platform but they alguem can help me, $20064,80, alguem knows what I can make to recoup my money?
 
Back
Top